In the military, leaders often provide what is called “Top Cover” flying above their followers to ensure their mission is a success. Submarines travel with pilot ships to guide them. This is what you and executive need to do. Leadership, being the core of management, is crucial to and organization’s success—-both from a performance and management level. However, leaders across the globe have found that corporate strategy is critical to business success. A prominent scholar that is well known in the Academy of Management, one of the largest leadership and management organizations in the world by the name of Peter Senge says that successful organizations enhance their competitiveness by focusing on corporate strategy. Leaders find that corporate strategy is the in the forefront of success. And corporate strategy could be the most important component of success in this ever changing business environment of today. This, by far, is why some organizations are successful and some are not. The key take-away for leaders is that corporate strategy is a resource that enables organizations to solve problems and create value through improved performance and it is this point that will narrow the gaps of success and failure leading to more successful decision-making.
Executives that implement corporate strategy as an important driving force for business success find their organization to be more competitive and on the cutting edge. However, the effectiveness of corporate strategy implementation is determined by a set of critical success factors, one of which is the strategic dimension of leadership. Thus, one tool for executives to use when considering on lessoning the gaps between success and possible failure, is to adopt leadership and implement corporate strategy. The burden of success when the implementation of corporate strategy is concerned is heavily dependent on the capabilities of the organization’s leaders. Therefore, the outcome is success which narrows the gap between success and failure and this can be achieved by corporate strategy implementation and facilitated by an executive acting as a leader.
Corporate strategy reflects the degree to which a company can expand and determine the right pathway to success. The key function of corporate strategy is to help executives use it for goals achievement. In this context, corporate strategy is becoming the forefront to success for corporations worldwide. Success, therefore, is dependent upon how executives formulated their organization’s strategy. Corporate strategy has been, therefore, a focal point of executive span of control but has not been associated with leadership enough to make it an integral part of business success. Leaders can, in fact, positively impact corporate strategy through enhancing the dynamic relationships among employees and departments, but most importantly, through satisfying customer needs and adding to financial success. Further, one outcome of corporate strategy is to connect knowledge with other companies that want to share successes and failures. This leads to converting acquired knowledge into organizational processes and activities to improve or discontinue processes that contribute success. It is about getting the information needed to be successful in the right hands of executives worldwide. Leaders can inspire organizational members to network with more successful competitors by sharing successes to build alliances and not only enhance competition but communicate best practices as a way of keeping the highest standard of operation in the industry and being the go-to organization for successful modeling of profitability, customer service, and employee satisfaction. In doing this, leaders employ corporate strategy to develop relationships with external environments to identify new opportunities that occur in an ever-changing hypercompetitive marketplace. Leaders can also use corporate strategy to expand the growth opportunities available to organizations that may be challenging but important to close the gap between success and failure. Leadership is, therefore, pertinent to the successful implementation of corporate strategy. And linking leadership and corporate strategy can increase the chance of success for companies.